Gitcoin
Crypto Overview
Overview
Gitcoin (GTC) is a governance token for the Gitcoin platform, which was launched in 2017. The platform aims to support open source software development through a combination of crowdfunding, grants, and bounties.
Intended Utility
GTC serves as a governance token for the Gitcoin DAO, allowing holders to participate in decision-making regarding the platform's development, grant distributions, and protocol changes. Token holders can vote on proposals and help shape the direction of the ecosystem.
Actual Utility
The token is actively used for its intended governance purposes. Gitcoin has facilitated over $50 million in funding for open source projects through its quarterly Gitcoin Grants rounds. The platform employs quadratic funding mechanisms to optimize grant distribution.
Token Distribution and Governance
The initial token distribution was designed to be community-focused, with approximately 50% allocated to the community treasury and users. The team and investors received portions with vesting schedules to ensure long-term alignment. The protocol demonstrates active governance participation, with regular proposals and voting activities.
Development Activity
Gitcoin maintains strong development activity with regular updates to its protocol. The platform has evolved to include features like Passport (identity verification), Grants Stack (grant management tools), and Allo Protocol (fund distribution infrastructure).
Revenue Model
The platform generates revenue through platform fees on donations and grants, which are used to sustain development and community initiatives. This model does not involve interest-based mechanisms or prohibited activities.
Crypto Impact
To assign a comfort level investing in Gitcoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Gitcoin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.